Word: forecasts
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...window. "No more rain, please," he said. Sure enough, only a few drops fell this time. But even after the floodwaters subside, Sudan's political, economic and religious problems will be serious enough to engulf any government. For the majority of Sudan's 24 million citizens, the forecast is gloomy regardless of the weather...
...retail increases are likely. The devastation of the durum-wheat crop in North Dakota, for example, is bound to result in heavy markups on pasta. The Agriculture Department maintains that the inflation rate for food this year will stay within its predicted range of 3% to 5%, but that forecast is looking increasingly wishful...
When the Agriculture Department released its first estimate of drought damage last month, the news was grim. But when an updated outlook was released last week, the figures were even worse. The Government forecast that the year's corn harvest will reach only 4.48 billion bu., down 37% from last year. A month ago, the decline was pegged at 26%. The estimate of the wheat harvest, down 13% for the year, is virtually unchanged from July, but the soybean crop is looking far more stunted than it did a month ago. Production may total just 1.47 billion...
...last week. While a few fortunate areas were blessed with rain and even an occasional thunderstorm, most of the nation found little relief from the drought that began in the spring. Just how much damage the prolonged dry spell has already caused was the subject of a preliminary crop forecast issued by the U.S. Department of Agriculture. The USDA estimated that U.S. grain production in 1988 may be only 212 million metric tons, down 24% from 1987. The corn crop is particularly hard hit -- 26% smaller than last year. The USDA pegged soybean production at 1.65 billion bu., down...
Though discouraging enough, the USDA report may understate the problem. "The commercial surveys will doubtless be bolder, and lower, than those of USDA," says Conrad Leslie, one of the nation's leading private crop forecasters. Leslie predicts a corn crop of 4.4 billion bu., 800 million bu. less than the USDA estimate. A survey by the National Corn Growers Association is even more pessimistic, predicting that this year's corn yields will be down as much as 42% from last year's. The USDA estimates assume normal weather for the rest of the growing season, even though most long-range...